Haynes Worldwide (HAYN) got here out with a quarterly lack of $0.29 per share versus the Zacks Consensus Estimate of a lack of $0.55. This compares to earnings of $0.32 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 47.27%. 1 / 4 in the past, it was anticipated that this alloy merchandise maker would put up a lack of $0.55 per share when it truly produced a lack of $0.65, delivering a shock of -18.18%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
Haynes Worldwide, which belongs to the Zacks Metal – Speciality business, posted revenues of $82.06 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 2.27%. This compares to year-ago revenues of $111.56 million. The corporate has topped consensus income estimates two occasions during the last 4 quarters.
The sustainability of the inventory’s instant worth motion primarily based on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
Haynes Worldwide shares have added about 19.3% for the reason that starting of the yr versus the S&P 500’s acquire of 11.4%.
What’s Subsequent for Haynes Worldwide?
Whereas Haynes Worldwide has outperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a formidable observe file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Haynes Worldwide was combined. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You may see the whole checklist of at the moment’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is -$0.41 on $86.16 million in revenues for the approaching quarter and -$1.80 on $332.44 million in revenues for the present fiscal yr.
Traders must be aware of the truth that the outlook for the business can have a cloth affect on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Metal – Speciality is presently within the high 46% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Need the newest suggestions from Zacks Funding Analysis? In the present day, you’ll be able to obtain 7 Greatest Shares for the Subsequent 30 Days. Click on to get this free report
Haynes Worldwide, Inc. (HAYN): Free Inventory Evaluation Report
To learn this text on Zacks.com click on right here.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.